GPRO - GoPro rallies after JPMorgan turns bullish on execution after direct-to-consumer pivot

JPMorgan upgrades GoPro (NASDAQ:GPRO) to an Overweight ratings from Neutral. Analyst Paul Chung points to GoPro's (GPRO) strong execution, underscored by the pivot to direct-to-consumer, as well as the respective high sub attach rate on GoPro.com and the increase in prices. "Management is executing very well, driving most profit and FCF in the firm's history providing support for premium multiples to historical average. We are incrementally constructive on the margin trajectory driven by price increases, product mix shift to flagship, and increasing sub contribution and expect the stock to outperform our coverage universe over the next 6-12 months." Chung and team raise estimates slightly on GPRO and say its prior sub projections were a bit conservative as it takes the price target to $15.00 on a sum-of-the-parts breakdown. Shares of GoPro (GPRO) are up 3.81% premarket to $11.99. The Seeking Alpha Quant Rating on GPRO stepped up to Very Bullish from

For further details see:

GoPro rallies after JPMorgan turns bullish on execution after direct-to-consumer pivot